Loan calculator with amortization schedule
Your payment, what you pay in total, and which offer is really cheaper.
- 100% free
- No sign-up
- Your numbers stay on your device
- Schedule as CSV and PDF
Enter the amount, the annual rate (nominal APR or effective annual rate) and the term to get your monthly payment and the full amortization schedule. Add up to three offers with their origination fee and monthly insurance to see which one costs least in total and its true effective rate including those charges. Then test extra payments: how much interest you save and whether to shorten the term or lower the payment. Everything is calculated in your browser.
How it works
Enter the offer
Amount, annual rate (APR or effective), term in months, origination fee and monthly insurance if any.
Compare and prepay
Add other offers and try extra payments to shorten the term or lower the payment.
Decide with the schedule
See each offer's total cost and effective rate, and download the schedule as CSV or PDF.
What makes it different
Up to 3 offers
Side by side, with the cheapest marked by total cost, not by the advertised rate.
True cost
Adds fees and insurance and calculates the effective annual rate you actually pay.
Extra payments
Prepay every month or once, and choose to shorten the term or lower the payment.
Nominal or effective rate
Enter the rate the way your lender quotes it: nominal APR or effective annual rate.
Downloadable schedule
The full amortization schedule as CSV for Excel or as PDF.
Private
No account and no data sent anywhere: it all runs in your browser.
What people use it for
Personal loan
Know the payment before you talk to the bank.
Car loan
Compare dealer financing with your bank or credit union, insurance included.
Mortgage
Terms up to 50 years with the full schedule and the effect of extra payments.
Buy now, pay later
Find out what you really pay when a purchase is split into installments with interest.
Refinancing
Compare your current loan with a new offer and see if the savings beat the fee.
Paying off early
How much interest you save with a bonus or tax refund put toward the loan.
Compared with other loan calculators
A lender's calculator shows its own offer. This one helps you choose between several:
- Compare up to three offers from different lenders on one screen.
- Includes origination fee and monthly insurance in the total cost.
- Calculates the true effective rate with those charges included.
- Shows the effect of extra payments, shortening the term or lowering the payment.
- Asks for no personal data, and no loan officer will call you.
Frequently asked questions
How is a loan payment calculated?
With the standard amortization formula: payment = P · i / (1 − (1 + i)^−n), where P is the amount, i the monthly rate and n the number of payments. The payment is fixed; early payments are mostly interest and later ones mostly principal.
What is the monthly payment on a $10,000 loan at 12% for 24 months?
$470.73 a month at a 12% nominal APR (1% per month), and you pay $1,297.63 of interest in total. If 12% is an effective annual rate, the payment is slightly lower because the equivalent monthly rate is 0.949%.
What is the difference between APR and the effective annual rate?
A nominal APR is divided by 12 to get the monthly rate; the effective annual rate (APY) already includes compounding. The true cost also adds fees and insurance; this calculator shows that as the effective rate, so you can compare offers fairly.
Should I make extra payments to shorten the term or lower the payment?
Shortening the term saves more interest, because you keep paying at the same pace and the debt ends sooner. Lowering the payment eases your monthly budget but saves less interest. Try both under Extra payments and compare.
How do I know which loan offer is cheaper?
Compare the total cost, not the advertised rate. An offer with a lower rate but a high origination fee or insurance can cost more. This calculator marks the offer with the lowest total cost.
Will the result match my lender's schedule?
It should be very close if you use the same rate and charges, but lenders may round, add fees or insurance that changes with the balance. Always check the official schedule before signing.
Is my data stored?
No. The calculation runs in your browser and nothing is sent to a server. Copy link puts your numbers inside the link itself, which only you share.